ING reported Tuesday a net profit of 1.3 billion euros over the first three months of 2016, a year earlier to 1.8 billion euros. Excluding one-time windfalls and setbacks dropped the result by 29 percent to 842 million euros.
The bank managed to screw on interest income by 2 percent, while the commissions more or less stabilized. The new supervisory regime in the banking sector spent nearly half a billion euros in costs involved, a year earlier.
ING expected at 174 million euros that the regulatory costs throughout 2016 with more than 300 million increase to approximately 960 million.
Bad loans
Customers collapsed last quarter, net 8.8 billion euros in their accounts at ING. In addition to EUR 7.1 billion was provided to new loans
The bank booked in the first three months of the year 265 million for bad loans. The contingency fund was thus almost 170 million less than the year before.
Across the favorable results of the consumer bank were weaker performance of the investment bank. Since the profit was affected by the massive unrest that prevailed in the financial markets in the first months of this year. Board chairman Ralph Hamers gave an explanation that the performances were disappointing in the markets, but that the cases in March and April are attracted again
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